Strategy (MSTR), the Bitcoin-focused firm led by Michael Saylor, has seen its stock price fall to its lowest point in nearly four months. This 8% decline coincides with a broader crypto market downturn and an 8.6% drop in Bitcoin’s price since its recent all-time high. The drop also follows Saylor’s announcement that the company is lowering its restrictions on issuing new shares.
Saylor’s firm, which currently holds 629,376 Bitcoin, updated its policy to allow for the tactical issuance of new shares when its market-to-net-asset value (mNAV) ratio falls below 2.5. This move gives the company more flexibility to raise capital for purposes such as debt payments and to potentially purchase more Bitcoin.
The decision has divided the crypto and investor community. Supporters, like trader Kale Abe, see it as a clear signal that the company plans to buy more Bitcoin. However, some shareholders have criticized the move, accusing Saylor of reversing a prior agreement made during the Q2 earnings report. Meanwhile, others, like developer Endre Stolsvik, view the change as a necessary, more realistic strategy given the company’s current mNAV of 1.55.
Over the past month, MSTR has declined over 21%, a trend mirrored by other public companies with significant crypto holdings, such as MARA, COIN, and RIOT.
August 2025, Cryptoniteuae
